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Hard Money Loans in Petersburg, North Dakota
A total of 17 search results for private money lenders were found in Petersburg, ND. Note amounts average around $285,417. The mean interest rate for hard money loans in Petersburg is 10.2%. 27 months is the mean term for notes issued in the city. A typical hard money loan issued in the city includes a 4.5 point origination cost. 67% is the typical loan to value offered for offered by lenders in Petersburg.
Loan Example 1
Edna is a house flipper in Petersburg, ND. She discovers a run-down property for sale and wants to rehab it and sell it for a profit. The house costs $260,000 but she does not have the full amount so she takes out a private money loan with BCC Funding. The lender agrees to issue a note with a 85% loan to value (LTV) so they are willing to extend $221,000 on the house. The terms of the loan dictate a 12% note for 6 months. They also require a 5 point origination fee, that will also have to be paid upon closing.
In accordance with the terms of the loan, Edna will have to pay a $11,050 origination fee in addition to 15% of the purchase price, or $39,000, based on the 85% LTV. After the loan is executed and Edna takes on the property, she will begin making monthly payments of $2,210 to the lender ($221,000 principle x 12% / 12 months). If Edna meets her goal of a $377,000 sales price when the loan term expires, she would pocket a total profit of $92,690 after repaying the principle and subtracting the money she contributed at closing, the origination points, and the monthly interest payments.
Loan Example 2
Bethany takes out a hard money loan from Blue Door Funding Group in order to renovate a townhome to resell in Petersburg, ND. The loan has the following terms:
a) A $190,000 purchase price, b) a 80% loan to value (LTV), c) a 12 month term, d) a 10% interest rate, and e) a 4% origination fee.
Bethany intends to sell the house when the note expires for $247,000. If she accomplishes her goal, the final numbers will be as follows:
$247,000 sales price
- $152,000 principle on note (80% LTV)
- $38,000 down payment (20% on 80% LTV)
- $6,080 origination points (4% of the $152,000 principle)
- $15,200 total interest paid (12 months x 10% interest)
-----------------------
= $35,720 gross profit (does not include taxes or rehab costs)
HardMoneyLoans.com is a national lender based in Beverly Hills, CA that can get your loan funded from $250k-$75M for all kinds of real estate projects. We specialize in hard money loans for all commercial and residential properties types, bridge loans, ...
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Anchor Loans
5230 Las Virgenes Rd, Suite 105
Calabasas, CA 91302
Anchor Loans is a California based Hard Money Lender. They provide loans in 46 states throughout the US. They are the largest Fix-and-Flip lender in the U.S. lending over $7.1 Billion life-to-date in total loan volume to real estate investors. ...
Next-Financing
6991 E Camelback Rd
Scottsdale, AZ 85251
Next-Financing is based in Scottsdale, Arizona and has a satellite office in Silicon Valley, California. They offer a wide array of financing options for businesses, including fix and flip loans and loans for rental properties. They lend on ...
Harbor Private Equity
1075 Peachtree Street NE, Suite 3650
Atlanta, GA 30309
We want to see any commercial transaction that makes sense. The principals at Harbor Private Equity have over 75 years experience in the hard money, bridge loan marketplace. We specialize in raw land, development, construction and bridge loans for non-owner ...
Dominion Financial
32 S Street
Baltimore, MD 21202
Dominion Financial Services is a private lender serving professional single-family real estate investors. We offer fix & flip loans, 30-yr fixed-rate rental loans, new construction financing, and multifamily bridge loans. We currently lend in all 50 states and Washington D.C ...
COGO Capital
1121 E. Mullan Ave
Coeur d'Alene, IA 83814
Based in Coeur d'Alene, IA, COGO Capital is an asset-based lender providing loans in 45 states throughout the US. They provide private commercial loans, fix-and-flip loans, and loans for investments properties. Their loan guidelines are flexible, including ...
Patch Lending
15000 Ventura Blvd Ste 300
Sherman Oaks, CA 91403
Patch Lending (formally Patch of Land) is a national private lender offering real estate investors fast and reliable financing for investment properties. Patch offer short-term single-family and multi-family bridge, fix & flip, ground-up construction, and long-term rental property financing. They ...
Secured Investment Lending
1485 International Parkway, Suite 1031
Lake Mary, FL 32746
Secured Investment Lending is private lender headquartered in Lake Mary, FL. They provide funding in 49 states throughout the country. They provide lending solutions for a variety of scenarios, including short term bridge loans, commercial loans, cash ...
National Advance Group
1 Linden Place
Great Neck, NY 11021
Based in Great Neck, NY, National Advance Group is an asset-based lender providing loans in 50 states across the United States. They offer lending solutions for a variety of scenarios, including commercial hard money loans and fix-and-flip hard money ...
American Land and Capital
16233 Kenyon Avenue, Suite 120
Lakeville, MN 55044
American Land and Capital is a Lakeville, MN based hard money lender. They offer loans in Minnesota, Wisconsin, North Dakota, South Dakota, Iowa, and Nebraska. They offer builder loans and fix and flip loans. ...
Rapid Commercial Loans
6136 Frisco Square suite 433
Frisco, TX 75034
Rapid Commercial Loans are private money lenders actively originating Private loans for commercial properties nationwide. With traditional lenders tightening up on their lending criteria, private money loans for commercial properties are becoming the most efficient loan product for many borrowers ...
Figure.com
650 California Street, Suite 2700
San Francisco, CA 94108
At Figure, we're transforming home equity by creating a faster, simpler and more transparent way to meet your financial goals. Learn how to use the equity in your home to consolidate debt, pay for home improvement, or fund your goals. ...
AMUSA Commercial Capital
301 Commerce Street Ste. 1420
Fort Worth, TX 76102
AMUSA Commercial Capital is a Dallas, TX based private money lender. They provide funding throughout the country. Their lending focus is mainly on non-bankable commercial real estate loans and Investment 1 to 4 loans. Their loan guidelines are flexible, including ...
ABC Capital Investments
1218 N. Marshall Street
Philadelphia, PA 19122
ABC Capital Investments is a Philadelphia, PA based private lender who offers loans all throughout the US. They provide lending solutions for many different scenarios, including long term rental property loans and short term fix and flip loans. ...
11 Capital Finance
20 West Vine Street #575
Lansdale, PA 19446
Based in Lansdale, PA, 11 Capital Finance is a hard money lender offering funding throughout the United States. They provide hard money construction loans, cash out hard money loans, commercial hard money loans, and bridge loans. ...
Rental Home Financing
9465 Counselors Way, Suite 200
Indianapolis, IN 46240
Rental Home Financing is a private money lender headquartered in Indianapolis, IN offering funding in 26 states across the country. They provide lending solutions for a variety of scenarios, including refinancing, fix-and-flip loans, and loans for investments properties. ...
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